if i have 100% MF, and in Act 2 inferno level 63 items now have a 4.1% drop rate, with my MF they will have a 8.2% drop rate? is that how it works? ive never done anything with MF and thats probably why i have never had more than 1.3 million gold at a time.
it does do much, it still doubles your chances remember, it will also increase your chances for blue/yellow (forgot to add yellow to my chart thing) which will give you $$$ and salvage mats. you get ~75% from NV stacks, personally i'm running GF right now on all my characters so i can build up a nice pool of cash before i start to switch over to MF (or both if i get lucky with drops)
An item, lets say an axe, drops, it has:
60% chance to be White
25% chance to be Blue
14% chance to be Grey
1% chance to be Orange
What magic find does is reduces the chance for it to be white/grey
Edit: percentages are made up